CHINA LIFTS AUSTRALIAN BEEF BAN: China has this week lifted its last two suspensions of Australian meat processing plants. It originally banned exports from 10 plants at the height of a $20 billion trade row in 2020. Trade Minister Farrell said Australia was close to all trade impediments with China being removed. THAILAND REACHES EUROPEAN TRADE AGREEMENT: Thailand and the European Free Trade Association (Iceland, Liechtenstein, Norway and Switzerland) have concluded negotiations for a free trade agreement. It includes goods,…
PBEC Trade Report
AUSTRALIA PURSUES MAJOR TOURIST BOOST: Australia hosted more than 300 global travel experts in Perth this week as part of its G’Day Australia promotional initiative. Tourism Minister Farrell said G’Day Australia played a critical role in ensuring Australia remained a top choice with international travellers. ASEAN & CHINA CONCLUDE TRADE NEGOTIATIONS: ASEAN and China have substantially concluded negotiations for the ASEAN-China Free Trade Area Upgrade 3.0. It was first signed in 2002 and represented ASEAN’s first external FTA and China’s…
AUSTRALIA REPORTS LOBSTER BREAKTHROUGH: Prime Minister Albanese expects Australian lobster exports to China will resume by the end of 2024. It follows a meeting with Chinese Premier Li Qiang in Lao. China banned Australian lobster imports in 2020 as part of a trade feud that also involved barley and wine. CHINA HITS EU WITH BRANDY ATTACK: Within days of the EU voting to proceed with anti-subsidy duties of up to 35% on China-sourced electric vehicles, China announced it would impose…
AUSTRALIA & SOUTH KOREA TALK TRADE: Trade Ministers Farrell and Cheong met in Perth this week for a 6th Korea-Australia FTA Joint Committee Meeting. It was the first in-person committee meeting since 2019. Since the FTA began in 2014 trade between the two economies has grown from $33b to $71b. CHINA LIFTS TAIWANESE FRUIT BAN: The Ministry of Agriculture in Taipei has announced China has lifted its ban on pomelo fruit imports from the island economy. The ban was introduced…
AUSTRALIA GETS US QUEUE JUMP: Australian travellers to the United States are to benefit from shorter arrival queues. It will follow Australia joining the United States’ Global Entry Program in 2025. Eligible travellers will be able to take advantage of expedited immigration and customs clearance channels. HONG KONG WELCOMES RCEP SUPPORT: Hong Kong has welcomed the support of Laos, Cambodia and Vietnam for its joining of the RCEP Free Trade Agreement. The repeated membership bid support followed a visit to…
AUSTRALIA BOOSTS GRAPE ACCESS TO JAPAN: Australia has secured access to Japan for all its table grape varieties. It had previously been limited to three varieties. Agriculture Minister Watt said the positive outcome of the technical negotiations would provider greater export opportunities to a priority market. ASIA PACIFIC ECONOMIES ATTEND G7 TRADE MEETING: A number of Asia Pacific economies attended this week’s G7 Trade Ministers meeting in Italy as observers. They included Australia, India, New Zealand, South Korea and Vietnam….
CHINA LIFTS AUSTRALIAN MEAT FACILITY BANS: China has lifted the trade suspensions on five Australia meat processing facilities. Eight beef processing facilities have now had suspensions lifted. Two facilities remain suspended. The latest action comes ahead of Chinese Premier Li’s planned visit to Australia in June. SOUTH KOREA & UAE SIGN TRADE AGREEMENT: South Korea and the United Arab Emirates this week formally signed a bilateral closer economic partnership agreement. It was signed in Seoul. Meanwhile Australian and UAE officials…
AUSTRALIA & CHINA TALK TRADE: Trade Minister Farrell and Commerce Minister Wang met virtually on Tuesday where they co-chaired a 17th Joint Ministerial Economic Commission meeting. Minister Farrell used the forum to resolve outstanding trade impediments affecting rock lobster and red meat trade. NEW ZEALAND LASHES CANADA: Trade Minister McClay is seeking legal advice after accusing Canada of failing to comply with a dairy trade ruling. He described Canada’s refusal to implement the ruling under the CPTPP FTA as cynical….
EU PUBLISHES COMPREHENSIVE CHINA REPORT: The EU has published an update of a 2017 report on state-induced distortions in China’s economy. It aims to provide information for trade remedy inquiries and focusses on China’s support for sectors including new energy vehicles and environmental goods. AUSTRALIAN MINISTER LEADS FIRST DELEGATION: Assistant Trade Minister Ayres has this week led an Australian Business Mission to Singapore and Malaysia. The Business Mission is the first under Australia’s new ASEAN Business Exchange Program and focussed…
AUSTRALIA TO BOOST EXPORT GRANTS: The Government introduced legislation to Parliament this week to streamline and boost the effectiveness of its Export Market Development Program. The major changes to the program include increased grants and earlier access to the funding for successful business applicants. NEW ZEALAND RACES TO IMPLEMENT EUROPEAN FTA: New Zealand’s Parliament has this week been completing the necessary legislative actions to allow ratification of the New Zealand-European Union FTA. New Zealand hopes the FTA can be introduced…